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Bitcoin’s price rose — albeit slightly — on data Wednesday showing that inflation had risen slower than expected.
The Fed’s main inflation gauge, the personal consumption expenditures price index, increased in August by 3.4% on headline and 3% for core — both well below estimates.
Bitcoin’s price recently stood at $84,246 after jumping as high as $85,518 at one point Wednesday morning in New York.
The news means the Federal Reserve is less likely to hike interest rates in October. High inflation is causing the U.S. central bank to take a more hawkish approach to managing monetary policy.
In his first speech since he became Fed chair, Kevin Warsh in…
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